Annual General Meeting 2008
The Annual General Meeting of Uponor Corporation was held on 13 March 2008 in Helsinki, Finland
The AGM adopted the financial statements of Uponor Corporation and the Uponor Group for 2007 and released the Board members and the Managing Director from liability.
Dividend payment
The proposed dividend of EUR 1.40 per share for 2007 was approved. With a record date of 18 March 2008, the dividend will be paid out on 27 March 2008.
Board of Directors and the Auditor
The number of Board members was decreased to five, with Jorma Eloranta, Jari Paasikivi (Chairman), Aimo Rajahalme (Deputy Chairman), Anne-Christine Silfverstolpe Nordin and Rainer S. Simon being re-elected to the Board. The term of office of Board members lasts until the end of the next Annual General Meeting.
KPMG Oy Ab, a corporation of authorised public accountants accredited by the Central Chamber of Commerce of Finland, will continue as the corporation's auditor. KMPG Oy Ab has confirmed that Sixten Nyman will act as the principal auditor.
Board remuneration
The increases in Board remuneration, as proposed by the Board, were approved, and the following annual fees were decided on: 71,000 euros for the Chairman, 49,000 euros for the Vice Chairman, and 44,000 euros for ordinary members.
Authorisation for the buyback of own shares
The AGM authorised the Board to resolve to buy back no more than 3,500,000 own shares, representing in total approximately 4.8 per cent of the total number of the shares of the corporation, using distributable earnings from unrestricted equity. The authorisation is valid for one year from the date of the AGM.
The shares will be bought back, upon the decision of the Board, otherwise than in proportion to the existing shareholdings of the corporation's shareholders, in public trading on the Helsinki stock exchange at the market price quoted at the time of the buyback, as provided by the regulations on the public trading of shares.
The corporation will buy back its own shares to use them as consideration in connection with any company acquisitions and other industrial restructuring, to develop the capital structure of the corporation, to finance investments, to dispose of the shares in some other way or to cancel them. The share buyback will reduce the corporation's unrestricted equity.
Back to top | 
